Growth at a CAGR of 6.25% in the Advance Wound Care Management Market during the forecast period 2018 to 2023| Dominant Vendors - CONVATEC GROUP PLC, ACELITY, SMITH & NEPHEW, 3M COMPANY, COLOPLAST, amongst others

Market Analysis:

North America to Dominate the Market
North America dominates the market due to increasing incidences of chronic wounds, favorable reimbursement policies and rise in geriatric population. Europe is also expected to boost the growth of market due to increasing awareness of wound care management among geriatric population. Factors such as increasing accessibility to healthcare facilities in the region, rising medical tourism, and increasing prevalence of chronic diseases are also expected to contribute to the growth of market in this region.

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According to NCBI, more than 9.3 percent of United States population which is estimated around 29.1 million people, is affected by diabetes. The incidence of chronic wounds especially foot ulcers increases among the diabetic population. The number of diabetes patients is expected to increase with increasing geriatric population which in turn will drive the market for wound care management in the forecast period. In addition, increase in surgical procedures worldwide along with increasing ageing population is also fuelling the growth of advance wound care management market. Wound care management is associated with high costs due to which it has a low adoption rate. Additionally, lack of reimbursement policies all over the world is also responsible for hindering the growth of market.

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Market Segments:
Advance Wound Care Management Market is segmented by:
1. PRODUCT: MOIST WOUND DRESSINGS, ACTIVE WOUND CARE, THERAPY DEVICES
2. WOUND TYPE: DIABETIC FOOT ULCER, PRESSURE ULCER, VENOUS LEG ULCER, ARTERIAL ULCER, SURGICAL WOUNDS, BURNS, OTHERS
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• December 2017: Smith & Nephew announced European launch of MolecuLight i:X, which is a handheld imaging device that can be used to instantly measure wound surface area and visualize the presence of potentially harmful bacteria in it.

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